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Activity 2.2. Journals and Ledgers

The Bar Harbor Blueberry Farm keeps accounting records in a file box but wants a more organized system. You have been hired as the accountant to establish journals and ledgers to properly record the farm's transactions. You are given vendor invoices totaling $14,791.60 from March that need to be recorded in the purchases journal and general ledger, and corresponding accounts payable in the subsidiary ledger.

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Remedios Capistrano Catacutan
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263 views2 pages

Activity 2.2. Journals and Ledgers

The Bar Harbor Blueberry Farm keeps accounting records in a file box but wants a more organized system. You have been hired as the accountant to establish journals and ledgers to properly record the farm's transactions. You are given vendor invoices totaling $14,791.60 from March that need to be recorded in the purchases journal and general ledger, and corresponding accounts payable in the subsidiary ledger.

Uploaded by

Remedios Capistrano Catacutan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Activity 2.2.

Journals and Ledgers

The Bar Harbor Blueberry Farm is a family-owned 200-acre farm that grows and sells blueberries to
grocery stores, blueberry wholesalers and small roadside stands. Bar Harbor has 25 full-time employees
and hires 150 to 200 seasonal workers for the harvest.

For the past six summers, you have picked berries for Bar Harbor. When you graduated, you were hired
full-time as the accountant/office manager. Until now, Bar Harbor kept most of its accounting records in
a big file box. Jack Philips, the owner, would like a more organized approach to the farm’s accounting
records. He asked you to establish a proper set of books. You decide to start by establishing appropriate
journals ledgers for these transactions.

Presented below are a set of vendor invoices and a few partially completed journals and ledgers. Your job
is to record these transactions and update the appropriate ledgers. Please use excel to complete this
problem.

VENDOR INVOICES
Date Supplier invoice Supplier name Supplier address Amount
March 7 AJ34 Bud’s Soil Prep PO Box 34 $2,067.85
March 11 14568 Osto Farmers Supply 45 Main $ 67.50
March 14 893V Whalers Fertilizer Route 34 $ 5,000.00
March 21 14699 Osto Farmers Supply 45 Main $ 3,450.37
March 21 10102 IFM Wholesale 587 Longview $ 4,005.00
March 24 10145 IFM Wholesale 587 Longview $ 267.88

Purchases Journal
Date Supplier Supplier Account Post ref Amount
invoice number
March 7 Bud’s Soil Prep AJ34 $2,067.85

General Ledger

Accounts payable
Date Description Post ref Debit Credit Balance
March 1 Balance forward $18,735.55

General Ledger

Purchases
Date Description Post ref Debit Credit Balance
March 1 Balance forward $54,688.49
Accounts Payable Subsidiary Ledger

Account no.23 Bud’s Soil Prep PO Box 34 Terms:2/10, net 30


Date Description Post ref Debit Credit Balance

Account no.24 Osto Farmers Supply 45 Main Terms:2/10, net 30


Date Description Post ref Debit Credit Balance

Account no.36 Whalers Fertilizer Route 34 Terms:2/10, net 30


Date Description Post ref Debit Credit Balance

Account no.38 IFM Wholesale 587 Longview Terms:2/10, net 30


Date Description Post ref Debit Credit Balance

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